PRESS: itsme® identity app acquires cutting-edge nextAuth technology
They’re dancing the Belgian tango in the technology world: itsme®, the identity app that has already won the confidence of nearly 7 million Belgians and is used by more than 800 companies, has acquired the Leuven-based company nextAuth, which specialises in multi-factor authentication. In doing so, itsme® has taken the next step in the expansion of its offer.
The itsme® app is widely used in the finance industry and other strictly regulated sectors because it complies with the highest possible rules and regulations on security, both nationally in Belgium and at a European level. The identity app now intends to go a step further by incorporating an even stronger protected end-to-end authentication process. As a result of the acquisition of Leuven-based nextAuth, itsme® is now able to add a major technological component to its app. nextAuth, a spin-off from KU Leuven and imec, is known for its cast-iron and highly advanced cryptography. This patented cutting-edge technology is widely accepted as a highly secure means of authentication.
Jens Hermans, CEO of nextAuth: “We are often asked questions about the difference between nextAuth and itsme®. Our answer has been that the itsme® app is the ideal client for the technology that we have developed. The fact that we can now actually give our solution wings through this collaboration with itsme® is fantastic news.”
Expanded product offering
With the acquisition of nextAuth, itsme® is also extending its services to partners and customers looking for authentication solutions that can be embedded into their own applications. These include biometric and passwordless mobile multi-factor authentication (MFA) systems integrated into banking applications.
“We have developed a strong international reputation in cryptography with the research group COmputer Security & Industrial Cryptography (COSIC). I am therefore delighted that the technology created in this team will now have a much wider application through the collaboration with itsme®”, said Professor Bart Preneel, who heads up COSIC.
This acquisition combines two Belgian technological success stories, in a field where Belgium is already very advanced. The fact that these two leading tech providers have opted to combine forces sends out a powerful signal for our country. With nextAuth’s expertise and the strong market position enjoyed by itsme®, online interactions will become even more secure and convenient for users.
“itsme® and nextAuth have a shared ambition: to ensure that all citizens are able to log in and sign documents in a way that is secure and easy. Cybersecurity has been a priority at both companies from day one. This merger is therefore a logical step. Welcoming the nextAuth team, with its in-depth expertise and shared values, can only strengthen the development of itsme®. The good ties with KU Leuven are also particularly valuable,” concluded Stephanie De Bruyne, CEO of itsme®